IBM & Danish Shipping Giant to Launch a Blockchain Company

IBM & Danish Shipping Giant to Launch a Blockchain Company

Heavyweight companies are looking forward to adopting blockchain. Last year tech colossus IBM was one of those who adopted revolutionary blockchain technology. Now it uses its blockchain platform Hyperledger and collaborates with other companies to accelerate food tracking and to assist FDA in optimizing data in clinical medical trials. But it isn’t the end – it seems that IBM has literally fallen in love with the blockchain ledger.

Recently, IBM on par with the Danish shipping titan Maersk declared about a joint project which will help to reinforce the worldwide trade safety as well as performance thanks to the blockchain.

Shipping With Blockchain

Having started collaboration two years ago, on January 16, both IBM and Maersk announced their new objective, according to which an original company (its name remains unknown) will be established. With the central office in New York, the firm will work on creating a blockchain, based on open norms so that anybody in the worldwide shipping system could use it.

What is remarkable is that the utilization of the blockchain to logistics as well as to the supply trade chains can be advantageous for both of the spheres when standing against breakdowns. The blockchain can speed up lots of processes in the shipping industry as it will assist firms in tracing and control shipments online. Hard-and-fast, blockchain will connect shippers, suppliers, port operators, respective government representatives together at a time. This will help to prevent casualties.

Vincent Clerc, who is the chief commercial placeman at Maersk, said that new project would allow shipping workers to swap vast volumes of data fast and safely:

“The potential from offering a neutral, open digital platform for safe and easy ways of exchanging information is huge, and all players across the supply chain stand to benefit.”

To achieve the goal, Maersk will adopt the Hyperledger Fabric, IBM’s known blockchain software. Moreover, the shipping giant may also apply some other innovations, e.g., Internet of things (IoT), artificial intelligence (AI) and cloud tech trends, in order to trace loadings.